Markets News
What was once a major bearish narrative exits via the tradesman’s entrance after failing to have any impact on Bitcoin markets.
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GBTC News
GBTC is the stock ticker of the Bitcoin Investment Trust (BIT) company, which has become the first public Bitcoin fund. GBTC's price directly depends on the increase in demand for GBTC, which — for its part — might be affected by BTC's price. That actually happened when BIT was launched and the BTC price increased 20 percent. The first official announcement about the appearance of BIT was made in 2015. Fund BIT was founded in 2013 by founder and CEO of Digital Currency Group, Barry Silbert. BIT has become the first fund that trades Bitcoin in a public exchange and has obtained the necessary agreements from regulatory organs and received the official Bitcoin Investment Trust GBTC ticker. GBTC of Bitcoin Investment Trust is an important step on the way to the massive acceptance of cryptocurrency.
- Markets News
There’s no doubting the BTC price upside, but under the hood, all is not what it seems, one analyst highlights.
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The Grayscale Bitcoin Trust, which trades under the ticker symbol GBTC, is being snatched up by institutional managers looking for more traditional exposure to digital assets.
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Wealthfront users will now be able to have up to 10% of their portfolios composed of the Grayscale Bitcoin and Ethereum Trusts.
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Funds are flowing back into GBTC, data suggests, as CEO Sonnenshein reiterates plans to turn Grayscale crypto funds into ETFs.
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Even if unlocking events were able to directly spark Bitcoin sell-offs, the worst is easily over, data shows.
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Rothschild Investment Corp has bought more Bitcoin and Ether exposure via Grayscale despite the ongoing crypto market retreat.
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The latest meltdown in BitFinex BTC shorts could follow up with a spike in spot Bitcoin bids, stated one analyst.
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On-chain data shows two dramatic declines in the Bitcoin reserves held by a Canadian Bitcoin fund but there's a catch.
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Bitcoin prices remain under pressure in the $30,000-$40,000 zone as traders brace for the 16,000 BTC worth of GBTC shares unlocking in July.
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Bitcoin bears could take a $31-million lead if BTC falls below $33,000 by Friday’s options expiry, but at the moment, both sides are balanced.
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The investment bank reported owning a significant stake in GBTC as of April 30, according to a recent filing with the SEC.
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The biggest single unlocking day will flush sellers from the market in July, opening up both volatility and bullish potential.
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The Grayscale Bitcoin Trust continues to trade at a discount compared to BTC, a situation that presents a unique challenge to Grayscale and investors.
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Digital Currency Group has purchased a total of $194 million worth of GBTC shares so far.
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